E-commerce has been a base of the 21st-century era. Nowadays offline businesses want to get their business online. The majority of people nowadays moved to online media. E-com in the early 21st century has been a boom in the marketplace carrying its success trip with an exponential growth rate since the last few years.
As we all know that online shopping has remained as one the favorite trend topic with many because of people are pressed for time to visit to offline stores and also due to some other sedentary lifestyle. We can see that low ticket products, as well as high ticket products both, remain a high trend in the e-commerce sector. Indian marketplace is best known for COD i.e., cash on delivery payment method. When it comes to newly established brands, potential customers are a bit skeptical about whether they will still receive the product or not. Hence they prefer cash on delivery payment method over prepaid methods.
Around 90% of the traffic of any website comes from paid ads or search engines. Rest 10% includes traffic from email marketing, referrals, direct traffic, etc. A pandemic disease COVID-19 (Coronavirus) has caused a drastic depletion in online shopping trends. This pandemic outbreak has also lead to a global recession. Due to such a miserable cause, e-commerce might face a drag in the sales tank. But not to worry, this phase will pass soon as like any other in this world.
Let me tell you how to remain in an upward trend during the global recession?
There will be a positive moment soon in a few e-commerce sector once the pandemic outbreak settles down. So start working on building strategies now that will help elevate your e-Commerce business to the next level. By that time you must have spot-on strategies to operate. The day is not very far.
Have you ever thought about some sectors such as food, groceries, medicines, and essential utensils that will face depletion in sales? No, it will absolutely not face. Not even in the global recession. It’s a basic need. But there will be a bull market in the above sector. In the case of non-essential products such as mobile phones, accessories, gadgets, and so on the e-commerce sector might face a drag in sales to some extent.
This is the time to build the right move in the market to boost e-commerce business again.
You can assign a major advertising budget (Facebook ads, Google Ads, Instagram Ads, other two-tier traffic sources) to essentials sectors. Paying quite biased attention to both essentials and non-essentials might lead to the failure of marketing.
Few important points to keep in mind on how to spend the advert budget effectively?
1. Targeting a proper geolocation
I know, you might be a bit skeptical about the above point because it’s quite clear to go and target India directly, what’s there to think about? Instead of spending a biased budget on all locations why won’t we spend a high amount of budget on metro cities and less on non-metros? As per e-commerce purchase data, around 40% alone spending comes from metro cities. Hence it’s worth spending on metros.
2. Arranging offers /discounts more.
Attracting potential customers to offers and discounts could lead to an increase in sales. Implementing cross-selling, upselling / down selling strategies might lead to an increase in sales records.
3. Targeting mobiles devices
We all know that mobile devices have become an online trend these days. Most of the sales, around 85% of sales, come from mobile devices. Hence diverting a high advertising spending amount on mobile devices would lead to effective advertising techniques.
4.Using the power of remarketing
The Remarketing technique always remains the most efficient way of advertising. It is a technique where we bring back those potential customers who left without purchasing anything or show interest in the product. Implementing such a technique might lead to an increase in sales
So such diversion will surely lead to a right move in the market even in the time of pandemic spread.